Maxis records highest net profit in four years

Maxis Bhd chief executive Morten Lundal speaks at the MaxisOne plan launch in Kuala Lumpur April 22, 2016. ― Picture by Choo Choy May
Maxis Bhd chief executive Morten Lundal speaks at the MaxisOne plan launch in Kuala Lumpur April 22, 2016. ― Picture by Choo Choy May

PETALING JAYA, Feb 9 — Maxis Bhd posted the highest full-year net profit in four years for its financial year ended December 31, 2017 (FY17).

In a statement, Maxis said the achievement was due to its improved earnings before interest, tax, depreciation and amortisation (Ebitda).

The telecommunications firm's net profit for FY17 rose 8.89 per cent to RM2.19 billion as compared to the previous corresponding period, while its revenue was 0.97 per cent higher at RM8.69 billion.

The normalised Ebitda grew by 2.1 per cent, on the back of higher revenue and positive results from cost-optimisation initiatives, the statement said.

Also, the Ebitda margin from the service revenue was strong at 53.9 per cent compared to 53.2 per cent last year.

Maxis chief executive officer Morten Lundal said that 2017 was a strong year with many proud highlights.

“We gained further market share both in revenue and profits. We developed our superior 4G LTE (long-term evolution) network to be unparalleled in quality as the best and fastest data network in the country.

“We are on track towards our ambition for full digitalisation of Maxis. All in all, a strong finish to a great year,” he said.

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